Tritax Big Box REIT buys Bosch warehouse – Tritax Big Box REIT has exchanged contracts, conditional on receiving full planning consent, to provide forward funding for the development of a new National Distribution Centre at Midlands Logistics Park, Corby. The property is pre-let to BSH Home Appliances Limited, part of the Bosch Group. The Bosch Group is […]
SEGRO sells Rome warehouse to Tritax EuroBox – SEGRO has exchanged contracts to sell a 158,000 sq m warehouse in Rome for EUR118 million. The transaction is expected to complete by the end of October 2018. The warehouse was developed by SEGRO-Vailog in August 2017 for a global online retail company on a 15 year lease. […]
Local Shopping REIT may be worth 34.5p per share – The Local Shopping REIT has sold or exchanged contracts for sale on 36 properties since its last update, for an aggregate price of £5.8m, a 1.1% premium to carrying value before sales costs. 16 of these properties were sold at auction, mainly in September. The aggregate sale […]
TR European Growth pauses for breath – over the year to the end of June 2018, TR European Growth‘s net asset value total return per share was 0.6% compared to a total return for its benchmark of 6.9%. The share price total return for the year was -3.2%. This year of underperformance and discount widening followed a […]
PRS REIT to be fully invested by 2019 – The PRS REIT has published its first set of results, covering the 13 months from commencement of trading on 31 May 2017 to 30 June 2018. Financial highlights Total revenue of £1.8m, generated from rental income, with net rental income of £1.5m Operating profit of £2.7m Profit after […]
SVM UK Emerging to pay fees – Given its size, SVM UK Emerging Fund‘s manager has waived its right to management fees on the fund since 2004. However, this is about to change. SVM Asset Management is entitled to a fee for providing investment management and secretarial services to the fund. This is payable quarterly in arrears at […]
Warehouse REIT gets planning for Glasgow site – Warehouse REIT has secured planning permission for change of use on 16 acres of its land at the Queenslie Park industrial estate in Glasgow. The proposed development will deliver up to 250,000 sq ft of employment-led space, comprising a combination of distribution/logistics, industrial, commercial, storage, retail and hospitality space. […]
CQS New City High Yield steady in face of Brexit worries – CQS New City High Yield Fund reports that its net asset value total return was 5.82% for the year ended 30 June 2018. The share price total return for the same period was 5.50%, and the premium to net asset value stood at 7.1% at […]
Gabelli Merger Plus yet to shine – The Gabelli Merger Plus+ Trust has published its first annual report, covering the period from its listing on 19 July 2017 to 30 June 2018. Over this period the fund generated a return on NAV of 2.78%, ahead of the return on 3-month treasury bills (which it uses as a […]
Henderson Eurotrust prepares for Tim Stevenson’s retirement – Henderson EuroTrust has published its results for the year ended 31 July 2018. The net asset value total return was 6.8% compared to a total return from the benchmark index, the Europe (ex UK) Index, of 5.8%. The dividend is being hiked by 22% – to 30.5p from 25p. The […]
Vietnam Holding reports on year of transition – Vietnam Holding reports that its NAV increased by 6.6% over the year to the end of June 2018, compared to a full year total return of 17.2% for the Vietnam All Share Index. The manager says the underperformance can be explained partly by the widening performance gap between large-cap stocks […]
UK Commercial Property REIT sells Soho office – UK Commercial Property REIT Limited has completed the off-market sale of 15 Great Marlborough Street, an office asset in London’s Soho, to Royal London Asset Management for GBP73.2 million, ahead of the last valuation as at 30 June 2018. The 49,094 sq ft freehold office building, which is arranged […]
Alpha Real Trust gets positive planning decision on Monk Bridge – Alpha Real Trust has announced that a further planning consent has been granted at the monthly planning committee for Leeds City Council in respect of the Company’s Private Rented Sector (“PRS”) development site at Monk Bridge in central Leeds. Detailed planning consent was originally granted in May […]
Triple Point buys ten more supported housing properties – Triple Point Social Housing REIT has completed the acquisition of ten supported housing properties and exchanged contracts on three further supported housing properties, comprising 51 units in total, for an aggregate commitment of GBP7.9 million (excluding costs). The properties are located in the North West (3 units), the […]
Greencoat UK Wind takes stake in Tom nan Clach wind farm, its first CFD-subsidised project – Greencoat UK Wind has entered into an agreement to acquire Belltown Power’s 75% stake in Tom nan Clach wind farm for a headline consideration of GBP126 million (including share of project finance debt). Tom nan Clach is located in Nairnshire, Scotland, […]
Pacific Horizon reports on positive year – Pacific Horizon Investment Trust reports that, in the year to 31 July 2018, its NAV total return was 13.6%. During the same period the MSCI All Country Asia ex Japan Index total return was 6.0% in sterling terms. The share price total return was 26.9% and the shares ended the […]
Civitas adds another three properties – Civitas Social Housing PLC has announced the purchase of three specialist supported living properties for a total consideration of £8,064,109, comprising 42 tenancies. The properties are leased to Falcon Housing Association C.I.C. (“Falcon”) and Inclusion Housing C.I.C (“Inclusion”) both of which are regulated by the Regulator of Social Housing and is a counterparty […]
Target Healthcare REIT cuts fees – Target Healthcare REIT has published results for the year ended 30 June 2018. Highlights EPRA NAV per share up 3.7% to 105.7p (2017: 101.9p) translating into an NAV total return of 10.5% (2017: 7.8%) EPRA earnings per share up 8.5% to 5.25p (2017: 4.84p) Dividend increased by 2.7% to 6.45p (2017: 6.28p) Dividend […]
Electra to make anther distribution – Electra has announced an agreement for the sale of its larger non-controlled assets, Photobox and Knight Square at 103% of adjusted 31 March 2018 carrying value and the outcome of the third phase of its strategic review. There will be a general meeting on 30 October 2018 to consider the adoption of […]
Yellow Cake reports NAV uplift on Uranium price rise – Yellow Cake plc (YCA), a specialist company operating in the uranium sector with a view to holding physical uranium for the long term, has released an operating update for the quarter ending third calendar quarter of 2018. The company’s NAV has increased by 21% to £2.42 /share relative to IPO price of […]
Genesis Emerging Markets lowers its fees to tighten discount – Genesis Emerging Markets Fund (GSS) has published it’s results for the year ended 30th June 2018. The NAV total return per share of the company rose by 6.8% over the twelve month period, which is in line with its benchmark, the MSCI EM (TR) Index. The share price, however, returned 8.4%. Performance After two […]
SQN Asset Finance Income’s operational focus supports performance – SQN Asset Finance Income Fund (SQN) has published its annual report for the year ending 30 June 2018. Performance of NAV The company’s NAV total return per share was +6.2%. For the 2016 C shares, the total return was +1.9%. The portfolio is performing well, with […]
Another registered provider being reviewed by regulator – on 18 September 2018 the Regulator of Social Housing published a ‘Grading under review notice’ on Trinity Housing Association Limited. The notice says that “Trinity Housing Association Limited does not currently have a regulatory judgement as it previously held less than 1,000 homes. We are investigating a […]
Baillie Gifford Japan benefits from positive stock selection – the annual statement for Baillie Gifford Japan (BGFD) has been released. Performance The company’s net asset value returned 22.1% (total return in sterling terms). By comparison, the company’s benchmark, the TOPIX index rose by 7.8% on the same basis. This was after deducting borrowings at fair value. The share price […]
Sirius completes acquisition of business park in Mannheim – Sirius Real Estate (SRE) has announced that it has completed the acquisition of a business park in the northeast of Mannheim in South West Germany. The total consideration was €9.62 million, reflecting an EPRA net initial yield of 6.0%. Funding The acquisition was funded using a combination of capital raised from […]
Invesco Income Growth trims fees – Following constructive discussions with the company’s manager, Invesco Fund Managers Limited, Invesco Income Growth‘s board has announced the agreement of amendments to the existing fee arrangement became effective 1 October 2018. A reduction in the fee from 0.65% to 0.60% for the first GBP150 million of market capitalisation; A reduction in the […]
Dunedin Enterprise sells Pyroguard, plans cash return – Dunedin Enterprise Investment Trust has announced the successful realisation of Pyroguard, the specialist fire resistant glass manufacturer. Total proceeds from the sale amounted to GBP9.3m representing an uplift of GBP0.4m over the valuation of GBP8.9m at 31 March 2018. The original cost of the investment was GBP3.8m and over its […]
Strategic Equity Capital NAV edges higher – Strategic Equity Capital has announced results for the year ended 30 June 2018. On a total return basis, the NAV per share increased by 1.8% during the year, behind the Small Cap ex Investment Trusts return of 6.4%. The share price fell during the year by 1.6%. The board is proposing a final […]
Schroder Japan reports modest outperformance – Schroder Japan Growth Fund has published its annual report for the year ended 31 July 2018. The NAV and share price outperformed the TSE First Section Total Return Index, producing total returns of 10.2% and 10.6%, respectively, compared with 9.7% produced by the index. The directors have declared a final dividend […]
Jupiter European pays £13m performance fee – During the twelve months to 31 May 2018, the total return on Jupiter European Opportunities’ net asset value was 10.2%. This compares with a return of 0.9% on the benchmark index and a total return on the middle market price of 11.3%. During the financial year to 31 May 2018 a […]
